Changes in Hong Kong stocks | Gold stocks increased in the afternoon, the Bank of Korea restarted physical gold purchases after a lapse of 13 years, and global central banks accelerated the increase in gold holdings

The Zhitong Finance App learned that the increase in gold stocks increased in the afternoon. As of press release, Zijin Gold International (02259) rose 5.56% to HK$138.7; Tongguan Gold (03330) rose 4.82% to HK$2.72; Zijin Mining (02899) rose 3% to HK$36.36; and Zhaojin Mining (01818) rose 2.91% to HK$24.04.

According to the news, the Bank of Korea has restarted its gold purchase plan after a lapse of more than 13 years and is simultaneously laying out gold ETFs. The head of the Bank of Korea's foreign exchange reserves management department said that rising geopolitical risks are driving the market's attention to the safe-haven properties of gold. Coupled with the fact that the price price has fallen from a high level and the price pressure has been reduced, the bank has determined that it is necessary to expand its gold holdings. The Bank of Korea's shift is in line with the general background of global central banks speeding up the increase in gold holdings.

Huachuang Securities released a research report saying that weakening short-term inflation and employment data is driving expectations of interest rate hikes to cool down, and gold ushered in a recovery window; global ETF capital is gradually entering a net inflow state, and demand for gold investment is expected to pick up. Looking at the medium to long term, the central bank's gold purchases form the foundation; the long-term logic of de-dollarization remains unbroken. The bank believes that the current position of the bottom of gold is relatively clear, and the valuation is expected to continue to recover. The medium- to long-term allocation value is prominent. It is recommended to focus on the gold sector and related assets, and it is recommended to focus on industry leaders and targets with clear growth potential.